Key Energy Services
 | |
| Public | |
| Traded as | NYSE: KEG |
| Industry | Oilfield services |
| Founded | 1977 |
| Headquarters |
Fulbright Tower Houston, Texas |
Key people |
Chairman, President and CEO: Richard J. Alario CFO: T.M. "Trey" Whichard III SVP & Chief Financial Officer: Newton W. "Trey" Wilson III SVP & Chief People Officer: Kim B. Clarke Senior Vice President of Product Development, Strategic Planning and Quality: Don Weinheimer Senior Vice President, General Counsel and Secretary: Kimberly R. Frye |
| Products | Well services, fishing and rental services, Coiled Tubing, Fluid Management |
Number of employees | 7,500 worldwide |
| Website |
www |
Key Energy Services is an American oilfield services company.[1]
Background
The company, established in 1977, provides well services and is based in Houston, Texas with other offices in Midland, Texas and regional offices in Bakersfield, California; Farmington, New Mexico; Casper, Wyoming; El Reno, Oklahoma; Fort Lupton and Grand Junction, Colorado; Lafayette and Shreveport, Louisiana; and Arnoldsburg, West Virginia. Key has over 175 service locations (known as “districts”) in the US. Globally, Key Energy Services has operations in the Middle East, Russia, Mexico, Colombia, and Ecuador.
Business Segments
Service offerings include:[1]
Rig Services
Rig-based well-servicing for workover or re-entries on existing wells, such as:
- New well completions
- PNA (Plug and Abandonment)
- Stimulation of existing wells with declining production
- Horizontal or directional drilling
- SmartTongsm Rod Connection Service
Fluid Management Services
Oilfield transportation services (often referred to as “Trucking”)
Fishing Services
Process to recover lost or stuck equipment in the well bore utilizing a "fishing tool” or “jar”. The FRS operations also cut windows in well sidewall casings for horizontal re-entries.
Rental Services
Ancillary equipment such as generators, drill collars as well as proprietary tools such as the Hydra-Walkr automated pipe handling system.
Coiled Tubing Services (CTS)
Provides fracing aka Hydraulic fracturing, acidizing and cementing services.
History and notable acquisitions
While Key Energy traces its roots to New Hope, Pennsylvania, operating under the name The Yankee Companies, the company's current name is a legacy of Yale E. Key, a West Texas oilman from Midland, Texas, who started his oilwell service business in the 1940s. After his death in the 1980s, his company, Yale E. Key, Inc., was sold to the Yankee Companies. As a result of the continued acquisition of oilwell service companies, the Yankee Companies changed its name to Key Energy in the 1990s. Key Energy has grown through over 1002 acquisitions. The most notable ones are listed below.
| Year | Company | Location |
|---|---|---|
| 1993 | Odessa Exploration | Texas |
| 1994 | Oilwell fishing tools | TX |
| 1995 | Clint Hurt and Associates | Texas |
| 1996 | WellTech | OK, MI, PA, WV and CA |
| Woodward Oil Service | Oklahoma | |
| Brownlee Well Service/Integrity Fishing & Rental Tools | TX | |
| Energy Air Drilling Services | TX | |
| Hitwell Surveys | MI and WV | |
| Brooks Well Servicing | TX | |
| B&L Hotshot | MI | |
| 1997 | Talon Trucking | OK |
| Cobra Industries | NM | |
| Tri-State Wellhead & Valve | TX | |
| Kalkaska Construction/Elder Well Service | MI | |
| T.S.T. Parafin Service | TX | |
| Diamond Well Service | OK | |
| Drillers | Argentina | |
| Shreve Well Service | WV | |
| GSI Trucking & Kahlden Trucking | various | |
| Jeter Service | TX | |
| 1998 | Dawson Production Services | Texas |
| 1999 | Six minor companies, adding 93 rigs to inventory | various |
| 2001 | Three minor acquisitions, adding 34 rigs to inventory | various |
| 2002 | Q Services[2] | TX, LA, OK, NM and Gulf of Mexico |
| 2004 | Fleet Cementers | CA & TX |
| 2007 | Moncla Companies | LA, MS & TX |
| Advanced Measurements Incorporated (AMI) | Canada | |
| Kings Oil Tools[3] | CA | |
| 2008 | Hydra-Walk, Inc.[4] | OK |
| Leader Energy (US operations)[5] | MI, ND, WV |
See also
External links
- Key Energy Services
- http://www.rigzone.com/news/article.asp?a_id=50445
- http://www.allbusiness.com/banking-finance/financial-markets-investing/8907145-1.html
References
- 1 2 "Form 10-K 2014". United States Securities and Exchange Commission. Retrieved 29 June 2015.
- ↑ "Form 8-K October 2002". United States Securities and Exchange Commission. Retrieved 29 June 2015.
- ↑ "FORM 8-K 2007". United States Securities and Exchange Commission. Retrieved 29 June 2015.
- ↑ "Form 8-K June 2008". United States Securities and Exchange Commission. Retrieved 29 June 2015.
- ↑ "Form 8-K July 2008". United States Securities and Exchange Commission. Retrieved 29 June 2015.